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Registration number: 11964610

Infinity Construction & Design Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Infinity Construction & Design Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Infinity Construction & Design Limited

Company Information

Directors

Mr Daniel Klein-Essink

Mrs Lynda Klein-Essink

Registered office

1 Manor Cottages Ladham Road
Goudhurst
Cranbrook
Kent
England
TN17 1LY

Accountants

Charter Tax Consulting Limited
8th Floor
1 Southampton Street
London
United Kingdom
WC2R 0LR

 

Infinity Construction & Design Limited

(Registration number: 11964610)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

2,033

3,324

Current assets

 

Debtors

6

58,268

37,412

Cash at bank and in hand

 

-

7,485

 

58,268

44,897

Creditors: Amounts falling due within one year

7

(17,986)

(15,927)

Net current assets

 

40,282

28,970

Total assets less current liabilities

 

42,315

32,294

Creditors: Amounts falling due after more than one year

7

(31,557)

(30,370)

Net assets

 

10,758

1,924

Capital and reserves

 

Called up share capital

1

1

Retained earnings

10,757

1,923

Shareholders' funds

 

10,758

1,924

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Infinity Construction & Design Limited

(Registration number: 11964610)
Balance Sheet as at 30 April 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 March 2024 and signed on its behalf by:
 


Mr Daniel Klein-Essink
Director

   
     
 

Infinity Construction & Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The Company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1 Manor Cottages Ladham Road
Goudhurst
Cranbrook
Kent
England
TN17 1LY
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements have been prepared and presented in UK Pound Sterling (£) which is the functional currency of the Company. The financial statements have been rounded to the nearest whole £.

Going concern

The financial statements have been prepared on a going concern basis.

The Directors have reviewed the adoption of the going concern basis and have concluded that it is appropriate as the Company is expected to meet its obligations for the foreseeable future (12 months from the signing of the balance sheet).

 

Infinity Construction & Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Judgements

No significant judgements have been made by management in the preparation of these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

The Company recognises construction contract revenue and costs by reference to the stage of completion of
the contract activity at the end of the reporting period.

Finance income and costs policy

Interest income is recognised in the profit and loss account using the effective interest method. Interest costs are also charged to the profit and loss account over the term of the debt using effective interest method so that the amount charged is at a constant rate on the carrying amount.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings & equipment

33% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Infinity Construction & Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2022 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

1,291

1,856

 

Infinity Construction & Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2022

7,619

7,619

At 30 April 2023

7,619

7,619

Depreciation

At 1 May 2022

4,295

4,295

Charge for the year

1,291

1,291

At 30 April 2023

5,586

5,586

Carrying amount

At 30 April 2023

2,033

2,033

At 30 April 2022

3,324

3,324

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

704

-

Amounts owed by related parties

9

47,068

31,396

Prepayments

 

155

111

Other debtors

 

10,341

5,905

 

58,268

37,412

 

Infinity Construction & Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

5,268

7,130

Trade creditors

 

-

691

Taxation and social security

 

8,733

5,556

Accruals and deferred income

 

3,985

2,550

 

17,986

15,927

Loans and borrowings includes bank loans of £4,065 (2022 - £7,130l) which are fully secured by the Government.

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

31,557

30,370

Loans and borrowings include bank loans of £31,557 (2022 - £30,370) which are fully secured by the Government.

Loans and borrowings include bank loans repayable in more than 5 years of £4,894 (2022 - £Nil).

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,065

7,130

Bank overdrafts

1,203

-

5,268

7,130

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

31,557

30,370

 

Infinity Construction & Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

9

Related party transactions

Transactions with Directors

2023

At 1 May 2022
£

Advances to Director
£

Repayments by Director
£

At 30 April 2023
£

Advances made to directors during the period

31,396

39,699

(24,027)

47,068

         
       

 

2022

At 1 May 2021
£

Advances to Director
£

Repayments by Director
£

At 30 April 2022
£

Advances made to directors during the period

7,661

52,262

(28,527)

31,396

         
       

 

Interest is charged at a rate of 2.00% to 5 April 2023 and 2.25% from 6 April 2023 per annum on balances that exceed £10,000 per Director.